Wall Street ends higher on hopes of trade war de-escalation

Wall Street ends higher on hopes of trade war de-escalation

By Stephen Culp

Wed April 23, 2025 4:17 PM  

The indexes, still feeling profound relief from yesterday’s dual hints that Trump would not try to fire Powell and Bessent stating, today in even stronger terms, that there would likely be easing in the China tariff war, had all the markets way up in the morning, the Dow reaching a whopping +1400 by 10:30 a.m. but then steadily declining throughout the rest of the session.  Still, there were healthy 3-digit gains all-around by close, no doubt also helped by a continuing healthy Q1 with 110 companies now reporting with 75% beating estimates.  

Also Q1 earnings growth is now pegged at 8.4%, up from 8.0% April 1^st, down from 12.2% January 1^st but up from 8.1% just yesterday. The VIX has finally fallen below the benchmark “30 panic” level and today is at 28.45, though it was only 15 a couple months ago. Volume came in at 17.4 billion, remaining below the average of 19.2 billion. 

DJ: 39,186.98  +1,016.57    NAS: 16,300.42  +429.52      S&P: 5,287.76  +129.56       4/22

DJ: 39,606.57  +419.59       NAS: 16,708.05  +407.63      S&P: 5,375.86  +88.10         4/23

Wed 4-23-25 4:17 pm Wall Street ends higher on hopes of trade war de-escalation | Reuters